Rebuilding Eastern: The New Fight Over Money

The Eastern Guilford H.S. family does not need to go through this again. But it is like the school burning down all over again.

The latest showdown seems to be over how to finance the rebuilding project. GCS asked the County Commissioners this week for a $53 million Certificate of Participation to pay for the project. The Commissioners, instead, want GCS to use $31.6 million in leftover unspent 2003 bond money. And Terry is talking.

“What’s the issue here…Why has this turned into some type of political game with commissioners?” he told the News & Record today. Click here for the article.

An excerpt:

School and county officials for several months have discussed the plan to use certificates of participation — a special type of loan that doesn’t require voter approval — to rebuild the school. Guilford County Schools would pay back the loan with future state lottery funds and possibly a state insurance settlement so that the public would not have to face a tax increase, Grier said. Construction of the school is estimated to cost $61 million, with $8 million coming from insurance funds provided up front by the state.

Using previously committed bond money would create several problems for the district, Grier said, including likely upsetting voters, adding to the costs of 10 construction projects and altering plans for a November bond referendum.

The district would have to forgo or delay construction at Florence, Gateway Education Center West, Guilford Middle, Madison, Morehead, Peck, Peeler, Pleasant Garden, Southern High and Union Hill .

“Right now I think it’s just a political maneuver,” school board member Darlene Garrett said about the commissioners’ delay. “I hope they’re not serious about that.”

Please folks, these parents cannot go through anymore grief. Finance the project and get it started…NOW!

E.C. 🙂


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